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The top marginal tax rate on income of 39.6%, provided for under the expiration of the 2001 portion of the Bush tax cuts, was retained. This was an increase from the 2003–2012 rate of 35%. [3] The top marginal tax rate on long-term capital gains of 20%, provided for under the expiration of the 2003 portion of the Bush tax cuts, was retained.
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (Pub. L. 111–312 (text), H.R. 4853, 124 Stat. 3296, enacted December 17, 2010), also known as the 2010 Tax Relief Act, was passed by the United States Congress on December 16, 2010, and signed into law by President Barack Obama on December 17, 2010.
The Buffett Rule is part of a tax plan which would require millionaires and billionaires to pay the same tax rate as middle-class families and working people. [1] It was proposed by President Barack Obama in 2011. [2] The tax plan proposed would apply a minimum tax rate of 30 percent on individuals making more than one million dollars a year.
The biggest question many investors are asking about President Obama's compromise tax cut deal is how it will benefit the economy. But if those investors are hoping for a consensus answer from the ...
President Barack Obama's new budget proposal is out, and it includes a key provision concerning the earned income tax credit. But many people don't even know what this credit is, let alone how it ...
On the day before President Obama delivers his State of the Union address, there is some good news to be had: The Dow is up. The NASDAQ is up. The S&P is up. Even the dollar is up. But those ...
$15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes). $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
President Barack Obama will call for new rules allowing business to deduct from their taxes through 2011 the full value of the purchase of equipment. The planned deductions are intended to ...